UPLD · Upland Software, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $216.88M | $274.79M | $297.85M | $317.30M | $302.02M | $291.78M |
| Cost of Revenue | $54.76M | $81.09M | $96.36M | $103.74M | $99.45M | $98.45M |
| Gross Profit | $162.12M | $193.70M | $201.49M | $213.56M | $202.56M | $193.33M |
| R&D | $36.51M | $47.37M | $49.38M | $46.19M | $42.69M | $39.00M |
| SG&A | $38.02M | $49.46M | $61.26M | $70.46M | $76.90M | $68.07M |
| Total Operating Expenses | $157.69M | $296.00M | $365.41M | $253.79M | $237.24M | $217.15M |
| D&A | $32.14M | $54.99M | $71.98M | $56.15M | $52.93M | $47.16M |
| Operating Income | $4.43M | ($102.30M) | ($163.92M) | ($40.23M) | ($34.68M) | ($23.81M) |
| Interest Expense | - | $8.94M | - | - | - | - |
| Income Tax | $232.0K | $2.64M | ($2.49M) | ($1.74M) | ($8.34M) | ($4.23M) |
| Net Income | ($38.90M) | ($112.73M) | ($179.87M) | ($68.41M) | ($58.21M) | ($51.22M) |
| EPS - Basic | ($1.56) | ($4.26) | ($5.77) | ($2.23) | ($1.92) | - |
| EPS - Diluted | ($1.56) | ($4.26) | ($5.77) | ($2.23) | ($1.92) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $29.40M | $56.43M | $236.56M | $248.65M | $189.16M | $250.03M |
| Accounts Receivable | $25.60M | $38.65M | $38.77M | $47.59M | $50.50M | $44.47M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $2.14M | $9.39M | $8.14M | $14.94M | $20.36M | $5.39M |
| Current Assets | $75.25M | $118.39M | $300.23M | $321.30M | $262.99M | $317.54M |
| Total Assets | $413.18M | $529.52M | $870.02M | $1.11B | $1.03B | $1.01B |
| Current Liabilities | $93.76M | $120.42M | $130.65M | $151.21M | $156.44M | $121.42M |
| Long-term Debt | $224.67M | $286.97M | $473.50M | $511.85M | $515.16M | $518.44M |
| Total Liabilities | $332.47M | $424.60M | $626.09M | $692.30M | $712.72M | $704.61M |
| Stockholders' Equity | ($48.37M) | ($18.30M) | $126.29M | $308.87M | $316.29M | $306.62M |
| Retained Earnings | ($640.51M) | ($601.60M) | ($488.87M) | ($309.00M) | ($240.59M) | ($182.37M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $25.80M | $24.24M | $49.94M | $29.98M | $41.74M | $35.62M |
| Investing Cash Flow | $8.80M | ($882.0K) | ($1.22M) | ($63.22M) | ($93.53M) | ($68.97M) |
| Financing Cash Flow | ($63.45M) | ($202.31M) | ($61.38M) | $94.15M | ($8.18M) | $107.90M |
| CapEx | $1.35M | $882.0K | $1.22M | $866.0K | $1.11M | $1.11M |
| Free Cash Flow | $24.45M | $23.36M | $48.72M | $29.11M | $40.62M | $34.51M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 74.8% | 70.5% | 67.6% | 67.3% | 67.1% | 66.3% |
| Operating margin | 2.0% | -37.2% | -55.0% | -12.7% | -11.5% | -8.2% |
| EBITDA margin | 16.9% | -17.2% | -30.9% | 5.0% | 6.0% | 8.0% |
| Net margin | -17.9% | -41.0% | -60.4% | -21.6% | -19.3% | -17.6% |
| Free cash flow margin | 11.3% | 8.5% | 16.4% | 9.2% | 13.5% | 11.8% |
| FCF / Net income | -0.63 | -0.21 | -0.27 | -0.43 | -0.70 | -0.67 |
| R&D / Revenue | 16.8% | 17.2% | 16.6% | 14.6% | 14.1% | 13.4% |
| SG&A / Revenue | 17.5% | 18.0% | 20.6% | 22.2% | 25.5% | 23.3% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -9.4% | -21.3% | -20.7% | -6.1% | -5.7% | -5.1% |
| Return on equity | 80.4% | 615.9% | -142.4% | -22.1% | -18.4% | -16.7% |
| Return on invested capital | 2.0% | -30.1% | -21.6% | -3.9% | -3.3% | -2.3% |
| Liquidity | ||||||
| Current ratio | 0.80 | 0.98 | 2.30 | 2.12 | 1.68 | 2.62 |
| Quick ratio | 0.80 | 0.98 | 2.30 | 2.12 | 1.68 | 2.62 |
| Cash ratio | 0.31 | 0.47 | 1.81 | 1.64 | 1.21 | 2.06 |
| Leverage | ||||||
| Debt / Equity | -4.64 | -15.68 | 3.75 | 1.66 | 1.63 | 1.69 |
| Debt / Assets | 0.54 | 0.54 | 0.54 | 0.46 | 0.50 | 0.51 |
| Debt / EBITDA | 6.14 | - | - | 32.16 | 28.23 | 22.20 |
| Interest coverage | - | -11.4x | - | - | - | - |
| Equity multiplier | -8.54 | -28.93 | 6.89 | 3.60 | 3.25 | 3.30 |
| Liabilities / Assets | 0.80 | 0.80 | 0.72 | 0.62 | 0.69 | 0.70 |
| Efficiency | ||||||
| Asset turnover | 0.52 | 0.52 | 0.34 | 0.28 | 0.29 | 0.29 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 43d | 51d | 48d | 55d | 61d | 56d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 14d | 42d | 31d | 53d | 75d | 20d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | 1.1x | 0.7x | 1.5x | - |
| P / S | 0.2x | 0.4x | 0.5x | 0.7x | 1.6x | - |
| EV / EBITDA | 6.5x | - | - | 30.7x | 44.0x | - |
| Growth | ||||||
| Revenue growth (YoY) | -21.1% | -7.7% | -6.1% | 5.1% | 3.5% | 31.1% |
| Revenue CAGR (3y) | -11.9% | -3.1% | 0.7% | 12.5% | 59.3% | 43.9% |
| Revenue CAGR (5y) | -5.8% | 4.3% | 31.8% | 26.5% | 32.2% | 33.1% |
| Gross profit growth (YoY) | -16.3% | -3.9% | -5.7% | 5.4% | 4.8% | 25.9% |
| Operating income growth (YoY) | - | 37.6% | -307.5% | -16.0% | -45.6% | 2.0% |
| Net income growth (YoY) | 65.5% | 37.3% | -162.9% | -17.5% | -13.7% | -12.9% |
| EPS growth (YoY) | 63.4% | 26.2% | -158.7% | -16.1% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 4.7% | -52.1% | 67.4% | -28.3% | 17.7% | 212.7% |
| FCF CAGR (5y) | -6.7% | 16.2% | 50.0% | 31.8% | 66.2% | - |
| Book value growth (YoY) | -164.2% | - | -59.1% | -2.3% | 3.2% | 44.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$427.23M totalProduct$210.35M · 49.2%
Subscription And Support$205.07M · 48.0%
Professional Services And Other$6.52M · 1.5%
Perpetual License$5.28M · 1.2%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-0.85
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing Upland Software against the 5 most active filers in the same SIC group.